Full Disbursement of Proceeds. Such Mortgage Loan has closed and the proceeds of such Mortgage Loan have been fully disbursed prior to the Funding Date; provided that, with respect to any Mortgage Loan originated within the previous 120 days, alterations and repairs with respect to the related Mortgaged Property or any part thereof may have required an escrow of funds in an amount sufficient to pay for all outstanding work within 120 days of the origination of such Mortgage Loan, and, if so, such funds are held in escrow by the Seller, a title company or other escrow agent;
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Samples: Mortgage Loan Flow Purchase, Sale & Servicing Agreement (Sequoia Mortgage Trust 2007-3), Mortgage Loan Flow Purchase, Sale & Servicing Agreement (Citigroup Mortgage Loan Trust 2006-Ar5), Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust, Series 2005-10)
Full Disbursement of Proceeds. Such Mortgage Loan has closed and the proceeds of such Mortgage Loan have been fully disbursed prior to the Funding Date; provided that, with respect to any Mortgage Loan originated within the previous 120 days, alterations and repairs with respect to the related Mortgaged Property or any part thereof may have required an escrow of funds in an amount sufficient to pay for all outstanding work within 120 days of the origination of such Mortgage Loan, and, if so, such funds are held in escrow by the Seller, a title company or other escrow agent;.
Appears in 6 contracts
Samples: Mortgage Loan Flow Purchase, Sale & Servicing Agreement (Structured Asset Securities Corp Mor Pas THR Cer Ser 2003-6a), Mortgage Loan Flow Purchase, Sale & Servicing Agreement (Structured Asset Sec Mort Pass Thru Cert Ser 2002-21a), Mortgage Loan Flow Purchase, Sale & Servicing Agreement (Structured Asset Securities Corp)
Full Disbursement of Proceeds. Such Mortgage Loan has closed and the proceeds of such Mortgage Loan have been fully disbursed prior to the Funding Date; provided that, with respect to any Mortgage Loan originated within the previous 120 days, alterations and repairs with respect to the related Mortgaged Property or any part thereof may have required an escrow of funds in an amount sufficient to pay for all outstanding work within 120 days of the origination of such Mortgage Loan, and, if so, such funds are held in escrow by the applicable Seller/Servicer, a title company or other escrow agent;
Appears in 6 contracts
Samples: Mortgage Loan Purchase and Sale Agreement (Sequoia Mortgage Trust 2007-1), Indenture (Sequoia Mortgage Funding Corp), Mortgage Loan Purchase and Sale Agreement (Sequoia Mortgage Trust 2007-2)
Full Disbursement of Proceeds. Such Mortgage Loan has closed and the proceeds of such Mortgage Loan have been fully disbursed prior to the Funding Closing Date; provided that, with respect to any Mortgage Loan originated within the previous 120 days, alterations and repairs with respect to the related Mortgaged Property or any part thereof may have required an escrow of funds in an amount sufficient to pay for all outstanding work within 120 days of the origination of such Mortgage Loan, and, if so, such funds are held in escrow by the Seller, a title company or other escrow agent;
Appears in 2 contracts
Samples: Mortgage Loan Purchase and Servicing Agreement (PHH Alternative Mortgage Trust, Series 2007-3), Mortgage Loan Purchase and Servicing Agreement (PHH Alternative Mortgage Trust, Series 2007-2)
Full Disbursement of Proceeds. Such Mortgage Loan has closed and the proceeds of such Mortgage Loan have been fully disbursed prior to the Funding Date; [provided that, with respect to any Mortgage Loan originated within the previous 120 days, alterations and repairs with respect to the related Mortgaged Property or any part thereof may have required an escrow of funds in an amount sufficient to pay for all outstanding work within 120 days of the origination of such Mortgage Loan, and, if so, such funds are held in escrow by the Seller, a title company or other escrow agent;]
Appears in 2 contracts
Samples: Mortgage Loan Flow Purchase, Sale & Servicing Agreement (Banc of America Funding 2006-8t2 Trust), Mortgage Loan Flow Purchase, Sale & Servicing Agreement (Banc of America Funding 2006-I Trust)
Full Disbursement of Proceeds. Such Mortgage Loan has closed and the proceeds of such Mortgage Loan have been fully disbursed prior to the Funding Date; provided that, with respect to any Mortgage Loan originated within the previous 120 days, alterations and repairs with respect to the related Mortgaged Property or any part thereof may have required an escrow of funds in an amount sufficient to pay for all outstanding work within 120 days of the origination of such Mortgage Loan, and, if so, such funds are held in escrow by the SellerServicer, a title company or other escrow agent. All costs, fees and expenses incurred in making closing and recording the Mortgage Loan have been paid;
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Full Disbursement of Proceeds. Such Mortgage Loan has closed and the proceeds of such Mortgage Loan have been fully disbursed prior to the Funding Date; provided that, with respect to any Mortgage Loan originated within the previous 120 days, alterations and repairs with respect to the related Mortgaged Property or any part thereof may have required an escrow of funds in an amount sufficient to pay for all outstanding work within 120 days of the origination of such Mortgage Loan, and, if so, such funds are held in escrow by the SellerCompany, a title company or other escrow agent;
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